Braskem deal okay

AUTHOR(S)

Robinson, Simon

PUB. DATE

July 2006

SOURCE

ICIS Chemical Business;7/31/2006, Vol. 1 Issue 30, p15

SOURCE TYPE

Trade Publication

DOC. TYPE

Article

ABSTRACT

The article reports on the approval of Braskem's acquisition of polyethylene producer Politeno by Cade, an anti-trust agency in Brazil. Braskem, which owns 35 percent of Politeno, paid $111.3 million to acquire the stakes owned by Suzano PetroquÃ­ and Japanese companies Sumitomo and Itochu. The company claims that the approval is an important step in the consolidation of the petrochemicals industry in Brazil.

ACCESSION #

21958021

Related Articles

The article reports on Brazil-based petrochemical company Braskem SA's acquisition of polyethylene producer Politeno. Braskem will pay $111.3 million to acquire the stake ownerd by Suzano Petroquimica, Sumitomo and Itochu. The deal will consolidate Braskem's presence in the Camacari...

The article reports on the acquisition by Brazil's Braskem of polyethylene (PE) producer Politeno. Braskem will get a number of tax breaks as a result of the acquisition. Braskem plans to acquire the remaining shares of Politeno, which are held by minority shareholders. Braskem has plans to...

The article reports on the acquisition of Politeno by Braskem from Suzano Petroquimica, Sumitomo Chemical, and Itochu. According to Suzano, the deal is a step toward streamlining the complicated ownership structure of the Brazilian chemical industry. According to local reports, Petrobras's...

Reports on the plan of Politeno to import ethylene for its proposed expansion in Brazil as of 2004. Companies which control the operations of Politeno; Intention of the company for the expansion of its linear low and high density polyethylene (PE) plant; Forecast on the demand for PE in Brazil.

Focuses on the efforts by the Brazil government to create competitors for Braskem, Brazil's largest petrochemical group. Mergers pursued by the government; Role of state oil giant Petrobras in the drive for mergers by the Brazil government; Petrochemical companies which are candidates for...

The article reports on the trends and developments in the petroleum chemicals industry in the U.S. Sunoco Chemicals' polypropylene (PP) business was acquired by Braskem of Brazil in April 2010. The reorganisation plan of LyondellBasel was filed with the U.S. District Court for the Southern...

The article reports on the controversy that has emerged in the petrochemical sector in Brazil about Braskem's takeover of Ipiranga. The objection to the takeover caused uproar at BrasilPlast 2007. According to local press, owner of Petroplastic Boris Gorentzvaig plans to file a complaint with...